JPMorgan: SK Hynix fell 15% last week, HBM pricing concerns overblown and shareholder returns to be realized ahead of schedule

TechFlow reports, according to TechFlow Research, SK Hynix's stock price fell 15% last week, underperforming KOSPI (-5%) and Samsung Electronics (-9%). The market is concerned about HBM pricing discounts, unclear timing of shareholder returns, and the 54 trillion won capex plan. JPMorgan responded in an August 9 research report, stating that media reports of a 50% discount on HBM pricing are inaccurate, the shareholder return plan will be implemented by the end of September, and the 54 trillion won capex is preparation for the 2030 target of 1 million wafer capacity, not for short-term aggressive expansion.